The Sunday morning news. [volume] (Jersey City [N.J.]) 1886-1891, 1887-07-03

| on the business 0ta paWnbroker ID anyClty
| of tnis state, without first having obtained
! from the mayor thereof a license author
ling such person, corporation, member
of copartnership or firm to carry on the
same, which license shall designate the
| house in which such business is to be
| conducted.
.. And be it enacted, That any person,
| corporation, member of copartnership or
firm receiving such license shall pay to
the city therefor such sum as shall be
| fixed by the common council board of
aldermen or other governing body of the
| city, not to excee the sum OF one hun
dred and fifty dollars; every such license
| shall expire one year from the date of its
| issuance, and NAV be renewed upon pay
ment of the license fee and compliance
with The other conditions of this act.
| 8. And be it enacted, That every person
or corporation applying for license un-
! der this act snail, at the time of the max
ing of the application, file with the clerk
of the city a bond to the city by its
corporate name, executed by the person
or corporation applying for the license
and two responsible persons as sureties,
in the penal sum of two thousand dollars,
conditioned for the faithful performance
of the duties any obligations pertaining
to the business so licensed and for faith
| tut compliance with the provisions of this
act, which bond shall be approved by the
common council, board of aldermen, board
of finance, or other body charged
| by law with the approval
Of bonds of constables, justices
| of the peace and city officers, before said
| license shall be issued; and the mayor
| shall have full power and authority to
| nd oh lcpncn for
cause.
| And be it enacted That if any per-
son shall be aggrieved by the misconduct
of any such licensed pawnbroker, and
shall recover a judgment against him
! therefor, such person may, after the re-
! turn unsatisfed, either in whole or in part.
of any execution issued upon said judy
me1t maintain an action in his own name
against the sureties upon the bond of said
pawnbroker in any court having jurisdic-
ton of the amount claimed; provided
such court shall, upon application made
for such purpose, have granted leave to
prosecute.
5. And be it enacted, That every such
licensed pawnbroker shall keep book,
in which shall be fairly written, at the
time of making a loan, an account and
description of the goods, articles or things
pledged or pawned, the amount of money
loaned thereon, the time of the pledging
or pawning of the same, the rate of
interest to be paid upon such loan, and
the name and residence of the person
pedging or pawning the said goods,
articles or things; such pawnbroker shall,
at the time of making any loan. deliver
to the person pawning or pledging any
goods, articles or things, memorandum,
note or ticket signed by him, containing
the substance of the entry required by
this section to be made 10 the book OF the
pawnbroker, and no charge shall be made
or compensation received by any pawn
broker for any such entry, memorandum,
note or ticket.
6. And be it enacted, That the said |
books shall at all reasonable times be open |
to the inspection of the mayor of the city,
chief of police, captains of police and po-
lice justices of the city and prosecutor of |
the pleas of the county, or any or either
of them, and to any person who may be
duly authorized, in writing, fer that pur-
pose by any or either of them,
T. And be it enacted, That no pawn
broker shall receive by way of pledge or
pawn, any goods, articles or things from
any minor, unless said minor shall present
a written order or consent from the parent
or guardian of such minor, or if the minor |
be an apprentice, then from his master,
which order or consent shall be kept upon
a file by the pawnbroker and note there |
of made in his book. and such order or
consent shall be subject to the same in |
spection as the books of the pawnbroker |
are.
s And be it enacted, That DO pawn
broker shall receive by way of pledge or |
1o Al r&st WI af
ever upon the first day of the week, COM
monty called Sunday.
9. Be it enacted, That no pawnbroker |
shall ask, demand or receive any greater
rate of interest than two per cent. a month |
or fraction of a month upon any loan, |
which rate of interest shall be endorsed |
upon the note, memorandum or ticket |
prescribed in this act; nor shall any pawn
broker ask, demand or receive any fee or
reward for loan other than the interest |
allowed by this act, nor make any charge |
for storage, insurance or protecting any
goods, articles or things pawned or pledged.
10. And be it enacted, That no pawn
broker shall sell any pledge or pawn until
the same shall have remained one year ID
his possession, and all such sales shall be
at public auction by licensed auctioneer.
and IN some public auction or salesroom
in said city, and shall not be at the place
of business of any pawnbroker.
IL. And be it enacted, That notice OF
every such sale shall be published for at
least five days previous thereto in at least
two daily newspapers printed in said city,
or if there sre not two daily newspapers
printed in said city, then in two daily
newspapers published nearest thereto and
having the largest circulation therein,
which notice shall specify the time and
place of sale and description of the goods,
articles or things to be sold, and at such
sale there shall not be sold or offered for
sale any goods, articles or things whatso-
ever except such as have been received by
the said pawnbroker by way OF pawn or
,aiadoa or bIS 1alaoa nf hucinpSS